Norwegian has lowered its group profit forecast following softer demand, a wage deal with pilots, delayed deliveries from Boeing and exchange rate changes.
During its Q1 results announcement in April, the Norwegian airline group predicted an operating profit of NOK 2.5 to 3.2 billion (£186m-£238m) for the full-year of 2024.
The profit outlook excluded any profits from Widerøe, the regional carrier which Norwegian acquired in January 2024.
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The group is now forecasting a group operating profit for 2024 of NOK 2.1 billion to NOK 2.6 billion (£156m-£193m), including Widerøe.
It said it saw “softer traffic demand” during the second quarter, with a contraction in load factor and yield compared to last year.
A wage settlement for pilots was higher than projected, while the aircraft delivery delays from Boeing forced the company to source external capacity for summer.
The NOK exchange rate has also been weaker in comparison to the US dollar.
The company also announced traffic figures for June, during which Norwegian had 2.2 million passengers – up 11% year on year.
Because of a significant capacity increase on longer flights, Norwegian experienced a slight decrease in yield and load factor.